Pearson Buys Globalenglish For $90 Million, Sees Adjusted EPS Enhancing From 2013

Date : 05/25/2012 @ 9:02AM
Source : Dow Jones News
Stock : Pearson, (PSO)
Quote : 8.92  0.01 (0.11%) @ 3:59PM

Pearson Buys Globalenglish For $90 Million, Sees Adjusted EPS Enhancing From 2013

Pearson (LSE:PSON)
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Pearson PLC (PSON.LN), a provider of education, consumer publishing and business information services, Friday acquired GlobalEnglish Corporation from its current ownership group for $90 million in cash, and said the transaction is subject to approval by GlobalEnglish's shareholders.

MAIN FACTS:

-Pearson will be expensing integration costs relating to GlobalEnglish in 2012 and expects the acquisition to enhance adjusted earnings per share and to generate a return on invested capital above Pearson's weighted average cost of capital from 2013, its first full year.

-GlobalEnglish is a provider of cloud-based, on-demand Business English learning, assessment and performance support software.

-Pearson shares at 1228 GMT up 2 pence, or 0.2%, at GBP11.39, valuing the company at GBP9.28 billion.

-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; razak.baba@dowjones.com

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